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Vat is a value added tax (VAT) charged on imported goods. It is a sales tax, which means that it is collected by the consumer and not the seller or manufacturer. In other words, you pay Vat when you purchase goods from a foreign country.
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Vat is a value added tax (VAT) charged on imported goods. It is a sales tax, which means that it is collected by the consumer and not the seller or manufacturer. In other words, you pay Vat when you purchase goods from a foreign country. www.mandmauditing.com
Vat review in UAE - The UAE has introduced VAT in order to increase government revenue and to encourage businesses to expand their operations within the country. The UAE does not have a VAT system at present, but it does have a value added tax percentage for some products, such as alcohol and tobacco products. www.mandmauditing.com
The UAE has implemented its own VAT system because it wants to ensure that all businesses operating in the country pay taxes on their sales regardless of where they are located. www.mandmauditing.com